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Topic: Milestones of FI (Read 3791 times)

I've run across a number of posts and podcasts by proponents of early retirement that spell out the stages or milestones of financial independence in terms of debt and your ability to pay it off, your net worth, and the source of your income.

I have yet another take on the milestones of financial independence with reference not only to the amount of money you have saved, but also in terms of how much time you spend thinking about money. I'm wondering what others think.

1. You are seriously in debt and feel overwhelmed by financial obligations, but are in complete denial about your ability to handle your financial obligations. Thinking about money dominates your life in a very real sense because each moment is devoted to avoiding dealing with the dire consequences that sooner or later await you.

2. You are seriously in debt and feel overwhelmed by financial obligations you recognize you will never be able to settle given your circumstances. Your entire waking life is dominated by thinking about bills and the consequences that attend to the real possibility they won't get paid.

3. You are seriously in debt and feel overwhelmed by financial obligations that you have some reason for hoping you can pay off if you just get your act together and stick with a plan for debt repayment. Your entire waking life is dominated by thinking about bills and the consequences that attend to the real possibility they won't get paid.

4. You are seriously in debt and feel overwhelmed by financial obligations. You have a realistic and specific plan for debt repayment in mind, and if everything works out according to the plan, you will eventually be able to pay it off. Your entire waking life is dominated by worries about cash flow, in part because just one small unexpected emergency could completely derail the plan.

5. You are seriously in debt and worried about your financial obligations. You have a realistic and specific plan for debt repayment in mind, and if everything works out according to the plan, you will eventually be able to pay it off. Your entire waking life is dominated by worries about cash flow, but you have reasons to believe you will indeed be able to stick with the plan and get through this.

6. You have some manageable debt but also a realistic and specific plan for debt repayment. Your entire waking life is dominated by worries about cash flow, but you are confident you will indeed be able to stick with the plan and get through this.

7. You have no debt (other than perhaps a mortgage), but your overall net worth is much lower than what you would need to attain financial independence. Your focus shifts to thinking about how to reduce your expenses to address outstanding debts to reducing expenses to reduce the amount of time you will have to continue working until you are financially independent. Your entire waking life is dominated by worries about cash flow and keeping your expenses as low as possible because you are starting to treat the achievement of financial independence as another debt (to your future self) that needs to be paid off.

8. You have no debt and your overall net worth is approaching what you need to attain financial independence. Your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible because you are on the verge of achieving financial independence but are plagued by worries that you may have underestimated the amount you need, how you will explain your decision to friends and family, and what you will do with your time after retirement.

9. You have no debt and you have attained financial independence from the perspective of any outside neutral observer. But you haven't pulled the trigger. Your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible because you are still plagued by second thoughts as to whether you are truly prepared to do this.

10. You have no debt and even you recognize you have attained financial independence. You pull the trigger, but your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible because you are still have second thoughts.

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You are justifiably proud of a tremendous achievement that has taken years to attain. With time, you graduate to the point of where conversations about money and how to save more and spend less become increasingly tedious, not merely because you are financially independent and no longer need to focus on these issues, but also because by now these are ingrained habits of the mind.

6. You have some manageable debt but also a realistic and specific plan for debt repayment. Your entire waking life is dominated by worries about cash flow, but you are confident you will indeed be able to stick with the plan and get through this.

The first sentence is where we are (relatively small mortgage plus a few months left on an auto loan), but we definitely don't worry constantly about cash flow or other financial problems. We're not living paycheck to paycheck. We have more than enough to deal with the finances as needed and otherwise go out and live our frugal lives.

We are somewhere between 8 and 9 in the financial description, but our lives are not dominated by cash flow comcerns. We are pleasantly surprised by how much we have, but choose to work a few more years so that we can have a comfortable middle class life style in our dotage, if we should so choose. We may not always be happy as hippy nomads and it is easier to spend another couple of years as mega savers now than to try to find middle class jobs when other people our age are starting to think about retirement.

I think you missed the group that is seriously in debt but doesn't spend every waking moment thinking about it and keeps accruing more debt hoping they will win the lottery, inheritance or bankruptcy. I know many people in debt who don't care. They accept the fact that they will die indebted and they have a "can't take it with you" attitude to justify that position.

I also disagree with the prevalence of "worried about cash flow" in your descriptions -- I have never been in that position. There were parts of my journey that were focused on figuring out/optimizing the budget, but that came from a position of strength (how much MORE can I save while not decreasing my quality of life) rather than deprivation.

Your descriptions make the journey to FI sound really unpleasant -- much more so than it probably is for most people who choose this path. Even those who start with significant debt probably have a point not too far out from debt payoff stage where they have enough assets built up that they can kick back and enjoy life quite a bit more. Anybody who gets to that stage and is still "constantly worried about cash flow" probably needs therapy....

I'm not crazy about it. I think the process should be easy-breezy, not stressful and difficult. I'm really big on automating all things financial, ignoring it, and focusing on living your life and dong fun things.

Also, what person in their right mind would be concerned about cash flow who had a 50-60% or higher savings rate? Like shit, that allows you to cashflow practically anything at the drop of a hat. If you only spend a small fraction of your money, you have such a massive surplus every month to tap into if needed.

I also disagree with the prevalence of "worried about cash flow" in your descriptions -- I have never been in that position. There were parts of my journey that were focused on figuring out/optimizing the budget, but that came from a position of strength (how much MORE can I save while not decreasing my quality of life) rather than deprivation.

Your descriptions make the journey to FI sound really unpleasant -- much more so than it probably is for most people who choose this path. Even those who start with significant debt probably have a point not too far out from debt payoff stage where they have enough assets built up that they can kick back and enjoy life quite a bit more. Anybody who gets to that stage and is still "constantly worried about cash flow" probably needs therapy....

I agree I probably overstated the amount of worry one has at various stages, but there are some members of our community who seem to be obsessed with optimizing their finances. The point of my original post was that there is a fundamental difference between what might be referred to as optimizing problems (paying off debt and saving enough to "purchase" the perpetual money machine that will cover your expenses for the rest of your life) and the head game of now that I am approaching or have approached true financial independence how do I shift my attention from focusing on money. True financial independence, it seems to me, comes from never having to worry about your finances at all (perhaps by automating as much as possible).

I agree with the posters who object to the frequency of cash flow concerns in the descriptions. I suggest temporarily reducing the % of savings going into retirement accounts in order to give yourself a better cash cushion. Once your high interest debts are paid, you should graduate within a year or so into the long happy phase where cash flow is rarely a concern.

More generally, the sequence of accumulation stages should include more expansion of joy during the journey. A quarter to half of your adult life will be in the accumulation phase. Soon after the vanishing of cash flow concerns, for example, you might enter the zone of having FU money. Boom, your quality of life rises.

I agree with the posters who object to the frequency of cash flow concerns in the descriptions. I suggest temporarily reducing the % of savings going into retirement accounts in order to give yourself a better cash cushion. Once your high interest debts are paid, you should graduate within a year or so into the long happy phase where cash flow is rarely a concern.

More generally, the sequence of accumulation stages should include more expansion of joy during the journey. A quarter to half of your adult life will be in the accumulation phase. Soon after the vanishing of cash flow concerns, for example, you might enter the zone of having FU money. Boom, your quality of life rises.

Thanks for your reply. I discovered MMM's site well into my career. I've never been in debt (aside from a mortgage) and am well into the phase where I probably have enough money to pull the trigger now (I'm on track to pay off the mortgage later this year). But I've been able do all this precisely because I'm optimizing my finances. Perhaps I'm misreading other posts on this site (and others) but I get the distinct impression that many of us have serious reservations about having a lot of cash in a bank account, the so called cushion or emergency fund (https://earlyretirementnow.com/2016/05/05/emergency-fund/).

I personally have a feisty Inner Bag Lady who gets extremely unhappy if we don't have a significant cash reserve. I have learned to placate her. No, it is not financially optimal. But we have more than enough as it is. A slightly lower overall return rate due to having a large cash stash is what allows us to ride out the ups and downs of the market with our other investments without undue stress or worry. The cash stash is usually enough for 2-3 years of living expenses, which allows us to ride out most recessions without touching investments.

I am also a satisficer, not a maximizer. Good enough is good enough for me. YMMV.

I am FIRE now, but did not worry much about money along the way. I did the calculations, saved off the top, kept an entire year’s worth of expenses in cash and equivalents, and enjoyed spending and donating the rest. The year’s worth of expenses meant that DH or I could quit a job on a whim at any time, and perhaps because of this “pressure release valve”, we never did.

I agree with the posters who object to the frequency of cash flow concerns in the descriptions. I suggest temporarily reducing the % of savings going into retirement accounts in order to give yourself a better cash cushion. Once your high interest debts are paid, you should graduate within a year or so into the long happy phase where cash flow is rarely a concern.

More generally, the sequence of accumulation stages should include more expansion of joy during the journey. A quarter to half of your adult life will be in the accumulation phase. Soon after the vanishing of cash flow concerns, for example, you might enter the zone of having FU money. Boom, your quality of life rises.

Thanks for your reply. I discovered MMM's site well into my career. I've never been in debt (aside from a mortgage) and am well into the phase where I probably have enough money to pull the trigger now (I'm on track to pay off the mortgage later this year). But I've been able do all this precisely because I'm optimizing my finances. Perhaps I'm misreading other posts on this site (and others) but I get the distinct impression that many of us have serious reservations about having a lot of cash in a bank account, the so called cushion or emergency fund (https://earlyretirementnow.com/2016/05/05/emergency-fund/).

Very thoughtful reply! Interesting link too.

The author of the linked article doesn't seem consumed by cash flow worries. Quite the opposite. Her point is she ISN'T worried. I believe you have the capacity to achieve the same blissful result - long before reaching FI.

It's fine with me if not having actual cash in the bank makes you feel secure, and relieves you from cash flow worries. Like many Mustachians, the article author uses credit and saleable investments instead of cash to ensure that her family has lots of funds available for emergencies and variable expenses. She evinces a vast lack of worry as a result.

By contrast, your original post contains numerous repeated references to worries about cash flow. Whatever method you use of overcoming those worries is fine with me! I mean, it's your life, you can even stay worried if you want. I just hope you'll realize that persistent worry is unnecessary. I hope you will choose some method of relieving it that works for you.

Heck, you don't need to stop putting money in retirement accounts. If you're willing to pay 10% in the event of a variable expense that must be paid before the next paycheck, you already have the ability to handle anything. My experience is that either some credit, some saleable stock or some bank cash is easier on the heart than a withdrawal penalty, but what method you use is totally up to you.

I can't say I relate to much of any of those milestones. I don't feel like we were ever "seriously in debt" and worried about finances. Most of your descriptions are all about worry and stress and I just never worried that much about finances. Even as a undergraduate and graduate student, I didn't worry. I just always spent less than I earned. I can remember when we didn't have much to eat and didn't have much of anything in our bank accounts. But now, a couple decades of work has changed all that. Now I focus on finances because I want to optimize % return. We are well beyond financially independent and could have retired years ago, but we enjoy our work and appreciate having good health insurance. Where we are on our financial journey is trying to figure out the best way to give money away because it's accumulating so fast it's crazy. At this point, we are making money so we will have more to give away to help other people and the environment. I am in a serious quandary about retiring or continuing to make money in a job I enjoy so I can give more away.

your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....

Nope, I never spent my life with worries about cash flow or trying to keep my expenses as low as possible, so I can't relate to any of the descriptions. Honestly, this doesn't sound healthy to me. My expenses could be lower.... so what? They don't cause me harm as they are and I enjoy what I get from them so I don't mind spending the extra money. My cash flow could be higher... but it could be lower... so what? It's what it is and I control how much of it I spend and how much I save such that I'll probably meet my goals financially AND I'll enjoy life along the way.

I don't think any any of those represent my perspective. Here's one that could be in there.

Your overall net worth is approaching what you need to attain financial independence. You think about money, but you don't obsess about it, and it doesn't cause significant stress. By now, you don't have a budget; you spend money on the things you value, and you try not to covet nonsense. You've created a high income for yourself, but you realize, based on the huge change happening in the world, that your high income is a house of cards. You're trying to make hay while the sun is shining because you know it won't shine forever. You've insured yourself and your family against high cost events, and you've avoided making needless high ticket purchases because you're engineering your life to minimize stress. You feel like you've struck a good balance of living for today, while preparing for a life in the future.

your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....

Nope, I never spent my life with worries about cash flow or trying to keep my expenses as low as possible, so I can't relate to any of the descriptions. Honestly, this doesn't sound healthy to me. My expenses could be lower.... so what? They don't cause me harm as they are and I enjoy what I get from them so I don't mind spending the extra money. My cash flow could be higher... but it could be lower... so what? It's what it is and I control how much of it I spend and how much I save such that I'll probably meet my goals financially AND I'll enjoy life along the way.

Agree! "Your entire waking life." Is what missed the mark for us. I (we) have never, ever lived our lives like this no matter what our net worth was. Hell, at times I think back at the freedom that I had in my 20's when cash flow was tight but I never stressed over it.

your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible.....

Nope, I never spent my life with worries about cash flow or trying to keep my expenses as low as possible, so I can't relate to any of the descriptions. Honestly, this doesn't sound healthy to me. My expenses could be lower.... so what? They don't cause me harm as they are and I enjoy what I get from them so I don't mind spending the extra money. My cash flow could be higher... but it could be lower... so what? It's what it is and I control how much of it I spend and how much I save such that I'll probably meet my goals financially AND I'll enjoy life along the way.

Agree! "Your entire waking life." Is what missed the mark for us. I (we) have never, ever lived our lives like this no matter what our net worth was. Hell, at times I think back at the freedom that I had in my 20's when cash flow was tight but I never stressed over it.

I don't think any any of those represent my perspective. Here's one that could be in there.

Your overall net worth is approaching what you need to attain financial independence. You think about money, but you don't obsess about it, and it doesn't cause significant stress. By now, you don't have a budget; you spend money on the things you value, and you try not to covet nonsense. You've created a high income for yourself, but you realize, based on the huge change happening in the world, that your high income is a house of cards. You're trying to make hay while the sun is shining because you know it won't shine forever. You've insured yourself and your family against high cost events, and you've avoided making needless high ticket purchases because you're engineering your life to minimize stress. You feel like you've struck a good balance of living for today, while preparing for a life in the future.

i like this. this is roughly where i am at. not worrying while working towards a minimum FI number, and focusing on enjoying the moment.

You've set your finances on autopilot and are in the "long middle" waiting until you wake up one day FIREd. You don't think about money because you sorted that thing out years ago and it takes care of itself in the background while you sleep. Your main focus is relaxing and enjoying life as your stash compounds. You work a low stress, chill job with normal work hours.

Have enough to be FI but not the type of FI life you want. Realize once you turn off the money tap it's going to be hard to get it flowing again like it is right now. Be patient, enjoy your family and leisure time.

Came here to say this. Iím far from FIREd, but I barely think about money when making purchases.

Yep, for me "your entire waking life continues to be dominated by worries " would never ever work.

I love optimizing things, to me it's beautiful when something operates in perfect optimization. I treat my personal finances as a game/puzzle to be solved and optimized, not as a "entire waking life" worry. Of course part of the point of optimization is that you don't have to keep worrying about it, the idea is to set the machine up and forget about it, so this "entire waking life" thing sounds really miserable.

Came here to say this. I’m far from FIREd, but I barely think about money when making purchases.

Yep, for me "your entire waking life continues to be dominated by worries " would never ever work.

I love optimizing things, to me it's beautiful when something operates in perfect optimization. I treat my personal finances as a game/puzzle to be solved and optimized, not as a "entire waking life" worry. Of course part of the point of optimization is that you don't have to keep worrying about it, the idea is to set the machine up and forget about it, so this "entire waking life" thing sounds really miserable.

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

If you then review the details of his story further you see someone focused on optimizing his finances as an engineering problem. Does optimizing your finances mean you are attending to issues of cash flow. Of course.

All I was trying to do was draw attention to a fundamental difference in one's orientation towards money between addressing a debt problem or the problem of becoming financially independent, which are both optimization problems. And, alternatively pursing the financial life that lies beyond.

I think you missed the group that is seriously in debt but doesn't spend every waking moment thinking about it and keeps accruing more debt hoping they will win the lottery, inheritance or bankruptcy. I know many people in debt who don't care. They accept the fact that they will die indebted and they have a "can't take it with you" attitude to justify that position.

Those folks exist, but thats not "Milestone of FI" as 99% of these folks will never reach FI in the way its discussed on this site.

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

Words have specific meanings. "Your entire waking life is dominated by worries about cash flow" does not mean the same thing as "Your financial situation is your primary focus, and you enjoy optimizing your cash flow."

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

Words have specific meanings. "Your entire waking life is dominated by worries about cash flow" does not mean the same thing as "Your financial situation is your primary focus, and you enjoy optimizing your cash flow."

Exactly!By the time I read "Your entire waking life is dominated by worries about cash flow" - for the third time -, I suffered a panic attack! Who lives and thinks this way?Figure out how to reach FI - commence with the plan - automate and adjust annually. End of story! Hang out in the MMM forums and other financial blogs and forums whenever you need a little boost of energy and some new ideas to improve your plans/finances.

People in my income range and age group can't afford to obsess to the degree a Mr. MMM could be driven in his younger years. This is not a five or even ten-year plan for a median income person or a low/lower income person. If you have a high income or are lucky enough to be a two high-income family - then OK - a five to 8-10 year plan is a possibility. If you don't get sick and don't lose your job or suffer any other calamity or a divorce etc....

There are quite a few people on this board with no debt, but only a moderate salary and few options - they optimize and maximize and pay attention while they use every opportunity and every coupon that comes their way. They enjoy the ride and they have fun along the way, because it is all about having a plan. Like a game where you score extra points along the way, because you found a tip that saved you $50, a recipe that cut your cooking time in half and tons of information to lower your expenses - priceless, habit-forming, but neither stressful nor boring.

When I think of milestones to FI - I think about reaching that last cash cushion. It means the last chip is in place and it is a good feeling. We've done what we can and we monitor along the way.Beyond that, it is all gravy - no worries.

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

If you then review the details of his story further you see someone focused on optimizing his finances as an engineering problem. Does optimizing your finances mean you are attending to issues of cash flow. Of course.

All I was trying to do was draw attention to a fundamental difference in one's orientation towards money between addressing a debt problem or the problem of becoming financially independent, which are both optimization problems. And, alternatively pursing the financial life that lies beyond.

To understand why, consider the words that were used in conjunction with the words "worry" and "cash flow":

"1. You ... feel overwhelmed... dire consequences...

2. You ... feel overwhelmed...

3. You ... feel overwhelmed...

4. You ... feel overwhelmed ... one small unexpected emergency could completely derail the plan...

5. ...get through this...

6. ... get through this...

7. You have no debt ... Your entire waking life is dominated by worries about cash flow ... because you are starting to treat the achievement of financial independence as another debt (to your future self) ...

8. You have no debt ... but are plagued by worries that you may have underestimated the amount you need, how you will explain your decision to friends and family, and what you will do with your time after retirement...

9. You ... have attained financial independence from the perspective of any outside neutral observer. But... Your entire waking life continues to be dominated by worries about cash flow ... you are still plagued by second thoughts...

10. ...even you recognize you have attained financial independence... your entire waking life continues to be dominated by worries about cash flow ... because you are still have second thoughts.

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You are justifiably proud of a tremendous achievement that has taken years to attain. With time, you graduate to the point of where conversations about money and how to save more and spend less become increasingly tedious, not merely because you are financially independent and no longer need to focus on these issues, but also because by now these are ingrained habits of the mind."

@rudged, I hope you can see that the words surrounding "worry" and "cash flow" include multiple indicators that "worry" had a negative connotation, just as it does in normal speech. Overwhelmed is clearly a word that implies a negative mental state. Most people would assume that being overwhelmed feels unpleasant - very different from the joyous journey of bike rides, friendship, courtship, pleasant optimizing and eventual love the MMM described himself as experiencing during his pre-FIRE wealth accumulation. That the FI seeker actually feels overwhelmed is repeated 4 times. The phrase "get through this" implies that stages 5 and 6 are also unpleasant. By stages 8 and 9, the person is "plagued" by thoughts that detract from enjoying an objectively good state. Milestone 11 shows that these are not positive because the person eventually gets past them. An unbiased reader would reasonably conclude that the milestones 1 through 10 offered in the original post are permeated by the implication of a negative or unpleasant emotional state.

Please be aware that the many strong reactions you are getting are caused by empathy. No one wants you or anyone else to go through the amount of emotional pain implied by the normal meanings of the words in the original milestones. It seems likely as a reader that if there are so many separate negative connotations in one description, perhaps such pain is part of your current underlying state - even if unconsciously.

I've been through several bouts of counseling. Negative emotions are unpleasant even if we're so used to them that we don't notice. Overcoming them is confusing at first but can be very liberating. You could explore this yourself as part of your preparation for FI (congratulations on approaching the FI zone, by the way!). If everything is perfect inside the capacious halls of your mind and soul, no harm will come from a few counseling sessions. If, like most of us, a few of life's bounces have left spots of rust here and there, a bit of professional assistance in gently smoothing out the rough spots might help you feel a lot better.

I am hopeful that your FI is going to be even better than you think, whether you follow such a suggestion or not. But, from experience, it's worth a try. In any case, glad you brought up your thoughts. Good luck in all your adventures. And keep posting! :)

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

If you then review the details of his story further you see someone focused on optimizing his finances as an engineering problem. Does optimizing your finances mean you are attending to issues of cash flow. Of course.

All I was trying to do was draw attention to a fundamental difference in one's orientation towards money between addressing a debt problem or the problem of becoming financially independent, which are both optimization problems. And, alternatively pursing the financial life that lies beyond.

I don't worry about money...I don't obsess about money. I generally don't even think about money. The best thing I got from MMM was learning about a simple 3-fund portfolio of index funds. I have no desire to optimize my finances, nor do I spend more than about 5 minutes a month thinking about money (when I update my NW calc). There are way more important thing in life for me than worrying/obsessing/thinking about this.

Edit to add: When I was in debt and had less than $1,000 to my name, I thought about money even less than I do now, so be assured my attitude is not built on excess.

Wow, I don't think I've ever had anyone so clearly outline my current financial position. I seem to live in a constant state of "you're doing fine, but don't get complacent." I may print this out and put it on my wall as a sort of affirmation.

I don't think any any of those represent my perspective. Here's one that could be in there.

Your overall net worth is approaching what you need to attain financial independence. You think about money, but you don't obsess about it, and it doesn't cause significant stress. By now, you don't have a budget; you spend money on the things you value, and you try not to covet nonsense. You've created a high income for yourself, but you realize, based on the huge change happening in the world, that your high income is a house of cards. You're trying to make hay while the sun is shining because you know it won't shine forever. You've insured yourself and your family against high cost events, and you've avoided making needless high ticket purchases because you're engineering your life to minimize stress. You feel like you've struck a good balance of living for today, while preparing for a life in the future.

Sigh. I do not understand why the phrases "worry" and "cash flow" are being interpreted so narrowly. If you worry about something, apparently you are losing sleep and prone to ulcers. And if you follow your cash flow, this means you are so sloppy with your finances that you are perpetually at risk of bouncing a check.

When I first came to this website I was struck by the heroic tale MMM shares about his journey. He shares a tale about how early in his career he discovered how he could become financially independent much earlier than most people traditionally retire, and how that discovery led him to take on a mission, becoming financially independent as soon as possible. i think a fair characterization of his journey is a man obsessed with reaching financial independence, focus on every aspect of his finances driven by a desire to reach his goal as soon as possible. The journey he has is nothing short of exhilarating, not miserable. Is is appropriate to refer to someone who has such an obsession about his finances "worried" about them? Of course. Are there better ways to phrase it than using the word "worry." Yes I freely concede this.

Words have specific meanings. "Your entire waking life is dominated by worries about cash flow" does not mean the same thing as "Your financial situation is your primary focus, and you enjoy optimizing your cash flow."

Exactly!By the time I read "Your entire waking life is dominated by worries about cash flow" - for the third time -, I suffered a panic attack! Who lives and thinks this way?Figure out how to reach FI - commence with the plan - automate and adjust annually. End of story! Hang out in the MMM forums and other financial blogs and forums whenever you need a little boost of energy and some new ideas to improve your plans/finances.

People in my income range and age group can't afford to obsess to the degree a Mr. MMM could be driven in his younger years. This is not a five or even ten-year plan for a median income person or a low/lower income person. If you have a high income or are lucky enough to be a two high-income family - then OK - a five to 8-10 year plan is a possibility. If you don't get sick and don't lose your job or suffer any other calamity or a divorce etc....

There are quite a few people on this board with no debt, but only a moderate salary and few options - they optimize and maximize and pay attention while they use every opportunity and every coupon that comes their way. They enjoy the ride and they have fun along the way, because it is all about having a plan. Like a game where you score extra points along the way, because you found a tip that saved you $50, a recipe that cut your cooking time in half and tons of information to lower your expenses - priceless, habit-forming, but neither stressful nor boring.

When I think of milestones to FI - I think about reaching that last cash cushion. It means the last chip is in place and it is a good feeling. We've done what we can and we monitor along the way.Beyond that, it is all gravy - no worries.

Lol I'm getting a kick out of some of the responses, so funny how mentally a like some of us on the forum are. I would think that for most of us, FIRE would not be possible if it were not for the absolute bone chilling fear of not achieving that goal. It takes more than just simply wanting the dream, you really have to have proper motivation that keeps you on track when life throws you a curve ball.

Words have specific meanings. "Your entire waking life is dominated by worries about cash flow" does not mean the same thing as "Your financial situation is your primary focus, and you enjoy optimizing your cash flow."

Lol I'm getting a kick out of some of the responses, so funny how mentally a like some of us on the forum are. I would think that for most of us, FIRE would not be possible if it were not for the absolute bone chilling fear of not achieving that goal. It takes more than just simply wanting the dream, you really have to have proper motivation that keeps you on track when life throws you a curve ball.

Hmm... not me for that one either. There's no fear of not achieving FIRE here. I would definitely be disappointed if it didn't happen, but the alternative is really not bad at all - I keep my expenses so low that I would hardly need to work at all to sustain myself very comfortably, like two days a week at minimum wage - and that's for my current lifestyle living in a nice apartment in a major city and travelling to Europe and Asia every year. If we were to, say, buy cheap land and build a mostly-self-sustaining homestead/cabin, and only do one international trip per year, I could cut that pretty easily own to one day a week of work or less. So it's really not some nightmare-inducing scenario.

I don't really need any kind of motivation, since I'm living pretty close to my ideal lifestyle already.

I would describe myself as a seven on this chart. Not everything has to describe you perfectly, some of you old timers sometimes sound like just like those indebted spendypants who won't listen to new ideas because they have special unique circumstances that weren't exactly described, therefore the whole concept just has to be dismissed.(I do feel better after that rant)

1: Born with a bronze spoon in my mouth, in a country that sponsors much of my education and parents that pay for the rest. Starting adult life without debt and without money. Having a voice in my head telling me that one doesn't go into debt for other things than a mortgage or an education. And even the education only if that education generates a good income.

2: Living on my own in a rental room. Feeling responsibility to not live off my parents when finished with full time study. Continued the second half of my study which was part time, working a low paid intern job beside it and an additional job in the evenings/weekends.Being a little worried about money, because there was only just enough to make ends meet, even while living quite frugally. Thinking life would be easier living together with a partner.

3: Getting a boyfriend and after some time, moving in together. This does make life easier. Boyfriend has a job with reasonable payment, I still do part time study, low paid intern work and additional job. Sharing household cost 60%(BH)/40% (me). Moving into a rental apartment. We have some money to increase lifestyle habits, but never have much left. Eventually I get to work fulltime. We don't worry about money.

4: Emigrating to the most expensive country in Europe. Getting 1 job before moving there. Future boss finds a rental apartment for us. Before going there worrying whether we can make ends meet one one salary. Then DH finds a job as well just before emigrating. Having to pay the rent for the apartment in advance and having to pay 3 months rent as a deposit. There go most of our savings. Still we have a little left over to move. MIL discovers the cheapest option, using a sea container. Our saved stash are now very low.

5: Starting in a new country with 2 jobs, but very little cash. First payments will come later this month. Choosing the cheapest food in the chops, like only buying frozen vegetables. By the time my salary had to be paid, we still didn't have a personal number, which means that you can't get a bank card. I got my salary on a bank account from which I could pay the bills, like the rent. But we still needed to pay groceries with our foreign visa card. Some worrying to get this in place soon, as the money is running low on this foreign account.

6: Getting everything in order, having control over cash flow in and out, still paying bills manually with a checks. Without noticing much, we manage to save quite well. After half a year we can afford to buy a car for 135K crowns. Later thinking about how nice it would be to own a place. Talking to a bank that says we can only get 80% mortgage. Just go and save up 20% yourself. Finding out that an apartment comparable to what we lived in cost approx 1 mil Nor. crowns, so we need to save 200K crowns. By the time we have saved that up, that same apartment now costs 1,5 mil crowns, so we need 300K in our own share. Fuck it, we need to save more. Since saving for a house we don't worry about the daily finances, but we worry about missing out on not owning a house. Feeling that renting equals throwing money away. We are not actively saving a lot to obtain that 300K, as living like we do saves automatically, we obviously have a LCOL lifestyle. High interest is good for our savings.

7: Having saved up enough to buy a place. Ended up buying a big house with nice view 0,5 hour by train outside the city, instead of an apartment in the city for the same price. Get a mortgage for maximum 2,5 our combined brutto salary with an non-fixed interest of 7,5%. The interest is high because we need 80% financing. We thought we could pay for a much higher mortgage, but the bank wouldn't give it. While having a mortgage, there is always this worry whenever I read the paper to see what the mortgage interest is doing. At some point it goes up to 8,5%. It varies a bit through the years. We we can easily pay the monthly payments. I often notice that there is a lot of money left on the bank account. I think about paying down the high interest mortgage, because if you only need 60% financing, you can get a whole percentage lower interest. I don't worry about money, but pay down extra on the mortgage twice a year with whatever I have leftover. Refinance the mortgage after a while to get into the 60% bracket.

8: Having paid down the 30 year mortgage in 5,5 years. Not worrying anymore about interest going up. Higher interest is now good for our savings. Just by living our normal lifestyle we save up 0,5 mil crowns. Dreaming about buying a cabin. Looking at several cabins and ending up buying one for 1,1 mil crowns. Need to take up a 0,7 mil crowns mortgage on the house again. No worries about money. The new mortgage can be paid off again after 1,5 year.

9: Owning the house and the cabin, how saving is even easier, as we don't have that mortgage. I try to invest in the stock market. I buy some random stocks from single companies or maybe even a fund. Have no idea what I am doing, but they don't go so well. I worry about my stocks. Then I read in a financial magazine that it is smart to invest in low cost index funds. Sounds like a good idea to me. I sell my stocks and buy low cost index funds. They do well and I stop worrying. They actually do very well and after many years I have 4,5 mil crowns invested and 0,5 mil crowns in profit. Nice. In the meantime we have fallen for some lifestyle inflation. We purchase a brand new car, a Subaru Legacy. Only 7 years and 100.000 km later we change it for another new Subaru Outback. We also improve parts of the house, install a new bathroom ourselves, install a warmth pump, install a new kitchen, improve some ceilings and walls ourselves. We talk a bit about becoming rich as we seem to be saving 0,5 mil crowns per year on average. Maybe we could early retire at 50? How much do you need for that? 25 mil crowns (3 mil USD) ??? I have no idea. We continue our life as usual.But the house needs some big upgrades, like new windows, a new central heating kettle. We are not so motivated to implement it. We also have an issue for the neighbouring house below us which is causing smell.

10: Most payments now go automatically. We have now so much money, that we start dreaming about buying a new modern house. For the value of our current house + our savings, we can buy a nice high-end house. We look around for some time and then buy a house in almost the same neighbourhood in June. It has an even better view than our old house. We put our old house up for sale in August. Selling it takes forever and the real estate broker is a disaster. We are very stressed, because this house needs to be sold before the winter, because of the steep and difficult road. Eventually we decide to break contract with the broker. Turns out he agrees he has done a bad job and we don't have to pay him for him used hours. 13K crowns saved. We find a new broker, lower the price of the house to a different bracket to find a new customer group. Still very nervous about the sale. Eventually the house gets sold. One of my colleagues says he can see my shoulders being lower now, because I am so relieved. But new buyer doesn't want to overtake the house until January. We don't get the money until he takes over. I take up a mortgage, costing me 13K crowns a month. We still have 800K left in the bank. In the meantime, we make the new house livable, buy a new enormous TV, a new refrigerator, a wine refrigerator, many cupboard shelves and drawers, 1/3 of a big snow blower that is owned together with 2 neighbours. I buy 2 telescopes and DH buys a fancy new bicycle. The train company stops stopping at our local train station. We need to buy a second car to reach the station further away.

11: I discover the MMM site. The American calculators don't apply exactly to my case, but I do get the general point. I create my own FIRE spreadsheet with a conservative value for the house and make the calculation flexible for every year, from 2023 when I am 50 and out rolls a FIRE number. It is so low that I extrapolate it to 2019. I realize that if we hadn't bought this house, we would have been able to FIRE in 2020. Shit, how stupid, but there is nothing to do about it, other than save like a maniac to get there as soon as possible. I become really frugal now and save a lot more than earlier. We start selling some stuff, like excess bicycles. Still owning 2 cars. We are getting excited about being so close to early retirement. We realize that we need to downsize and cash in the high end house. Last year was very stressful for many reasons. I think retirement would benefit DH's and my health a lot. Now it looks like FIRE in 2020. 2020 feels very far away.

12: Autumn 2018. Two brokers have given a price estimate of our house. It means the estimate in my FIRE spreadsheet was too conservative, I updated it. We are almost there and seem to be able to FIRE in 2019. This is coming very close. As our FIRE requires downsizing and moving to a LCOL country, we need to make a lot of changes in our life. And we need to make a plan to sell the house for a good price without having such a long process as with the previous house. Sometimes I wake up at night worrying a little about the future. How will it work out with the relocation? Will we get lonely? Moneywise everything is okay, I start working 80% to ease my way into FIRE. I feel pretty anxious about what the house prices will do in the next year when we plan to sell.

Well, since you didn't mean for it to come across like you're getting an ulcer, I've modified your steps (and consolidated some since they seemed to not have any significant difference to me).

1. You are seriously in debt and feel overwhelmed by financial obligations, but are in complete denial about your ability to handle your financial obligations. Thinking about money is a significant part your life in a very real sense because each moment is devoted to avoiding dealing with the dire consequences that sooner or later await you.

2. You are seriously in debt and feel overwhelmed by financial obligations you worry you will never be able to settle given your circumstances. You regularly worry about bills and the consequences that attend to the real possibility they won't get paid.

3. You are seriously in debt and feel very concerned about financial obligations, but you have some hope that you can pay off that debt if you just get your act together and stick with a plan for debt repayment, and if everything works out according to the plan, you will eventually be able to pay it off. You're still concerned about bills the real possibility they won't get paid, in part because just one small unexpected emergency could completely derail the plan.

4. [Consolidated]

5. [Consolidated]

6. You have some manageable debt but also a realistic and specific plan for debt repayment. You are confident in your ability to stick to the plan and pay your bills, but don't have much cushion otherwise, which sometimes causes you concern.

7. You have no debt (other than perhaps a mortgage), but your overall net worth is much lower than what you would need to attain financial independence. You may shift your focus to thinking about how to reduce your expenses and increase savings. You may find yourself obsessing over reaching financial independence, spending unhealthy amounts of time focusing on ways to optimize it, though you're more likely to not obsess and instead make reasonable plans and be comfortable with those plans and your finances. Thinking about finances may take tens of minutes out of your week.

8. You have no debt and your overall net worth is approaching what you need to attain financial independence. You can now see the roses of FI ahead of you and begin to refine your plan to ensure it will work out for you.

9. You have no debt and you have attained financial independence from the perspective of any outside neutral observer. You may decide to be extra-conservative and continue to pad your stache, or you may pull the trigger and treat your life like you're in the position you're in - Financially Independent, allowing you to retire or work a job/career that you want to be doing.

10. You have no debt and even you recognize you have attained financial independence. You've pull the trigger, and you enjoy your life in FI, occasionally checking to make sure your financial plan is still on-track and nothing is going astray.

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You don't concern yourself with minutia and instead enjoy your life, not obsessing over money in any fashion (whether pride or worry) because you're content.

Well, since you didn't mean for it to come across like you're getting an ulcer, I've modified your steps (and consolidated some since they seemed to not have any significant difference to me).

1. You are seriously in debt and feel overwhelmed by financial obligations, but are in complete denial about your ability to handle your financial obligations. Thinking about money is a significant part your life in a very real sense because each moment is devoted to avoiding dealing with the dire consequences that sooner or later await you.

2. You are seriously in debt and feel overwhelmed by financial obligations you worry you will never be able to settle given your circumstances. You regularly worry about bills and the consequences that attend to the real possibility they won't get paid.

3. You are seriously in debt and feel very concerned about financial obligations, but you have some hope that you can pay off that debt if you just get your act together and stick with a plan for debt repayment, and if everything works out according to the plan, you will eventually be able to pay it off. You're still concerned about bills the real possibility they won't get paid, in part because just one small unexpected emergency could completely derail the plan.

4. [Consolidated]

5. [Consolidated]

6. You have some manageable debt but also a realistic and specific plan for debt repayment. You are confident in your ability to stick to the plan and pay your bills, but don't have much cushion otherwise, which sometimes causes you concern.

7. You have no debt (other than perhaps a mortgage), but your overall net worth is much lower than what you would need to attain financial independence. You may shift your focus to thinking about how to reduce your expenses and increase savings. You may find yourself obsessing over reaching financial independence, spending unhealthy amounts of time focusing on ways to optimize it, though you're more likely to not obsess and instead make reasonable plans and be comfortable with those plans and your finances. Thinking about finances may take tens of minutes out of your week.

8. You have no debt and your overall net worth is approaching what you need to attain financial independence. You can now see the roses of FI ahead of you and begin to refine your plan to ensure it will work out for you.

9. You have no debt and you have attained financial independence from the perspective of any outside neutral observer. You may decide to be extra-conservative and continue to pad your stache, or you may pull the trigger and treat your life like you're in the position you're in - Financially Independent, allowing you to retire or work a job/career that you want to be doing.

10. You have no debt and even you recognize you have attained financial independence. You've pull the trigger, and you enjoy your life in FI, occasionally checking to make sure your financial plan is still on-track and nothing is going astray.

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You don't concern yourself with minutia and instead enjoy your life, not obsessing over money in any fashion (whether pride or worry) because you're content.

What about people who just have the mentality you describe in stage 11, regardless of their debt load and net worth?

Well, since you didn't mean for it to come across like you're getting an ulcer, I've modified your steps (and consolidated some since they seemed to not have any significant difference to me).

1. You are seriously in debt and feel overwhelmed by financial obligations, but are in complete denial about your ability to handle your financial obligations. Thinking about money is a significant part your life in a very real sense because each moment is devoted to avoiding dealing with the dire consequences that sooner or later await you.

2. You are seriously in debt and feel overwhelmed by financial obligations you worry you will never be able to settle given your circumstances. You regularly worry about bills and the consequences that attend to the real possibility they won't get paid.

3. You are seriously in debt and feel very concerned about financial obligations, but you have some hope that you can pay off that debt if you just get your act together and stick with a plan for debt repayment, and if everything works out according to the plan, you will eventually be able to pay it off. You're still concerned about bills the real possibility they won't get paid, in part because just one small unexpected emergency could completely derail the plan.

4. [Consolidated]

5. [Consolidated]

6. You have some manageable debt but also a realistic and specific plan for debt repayment. You are confident in your ability to stick to the plan and pay your bills, but don't have much cushion otherwise, which sometimes causes you concern.

7. You have no debt (other than perhaps a mortgage), but your overall net worth is much lower than what you would need to attain financial independence. You may shift your focus to thinking about how to reduce your expenses and increase savings. You may find yourself obsessing over reaching financial independence, spending unhealthy amounts of time focusing on ways to optimize it, though you're more likely to not obsess and instead make reasonable plans and be comfortable with those plans and your finances. Thinking about finances may take tens of minutes out of your week.

8. You have no debt and your overall net worth is approaching what you need to attain financial independence. You can now see the roses of FI ahead of you and begin to refine your plan to ensure it will work out for you.

9. You have no debt and you have attained financial independence from the perspective of any outside neutral observer. You may decide to be extra-conservative and continue to pad your stache, or you may pull the trigger and treat your life like you're in the position you're in - Financially Independent, allowing you to retire or work a job/career that you want to be doing.

10. You have no debt and even you recognize you have attained financial independence. You've pull the trigger, and you enjoy your life in FI, occasionally checking to make sure your financial plan is still on-track and nothing is going astray.

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You don't concern yourself with minutia and instead enjoy your life, not obsessing over money in any fashion (whether pride or worry) because you're content.

What about people who just have the mentality you describe in stage 11, regardless of their debt load and net worth?

The reality is that no matter where you are on the spectrum from loaded down with debt to massively wealthy, some people are going to worry, some people are just going to "go with the flow" and take care of things, and a thousand variations will exist on how they emotionally handle their situation. I tried to adjust the OP's milestones to what I figured was "typical", and even got rid of any reference to worry or contentment on a few of them I thought.

your entire waking life continues to be dominated by worries about cash flow and keeping your expenses as low as possible...my fucking job.

Nope, I never spent my life with worries about cash flow or trying to keep my expenses as low as possible, so I can't relate to any of the descriptions. Honestly, this doesn't sound healthy to me. My expenses could be lower.... so what? They don't cause me harm as they are and I enjoy what I get from them so I don't mind spending the extra money. My cash flow could be higher... but it could be lower... so what? It's what it is and I control how much of it I spend and how much I save such that I'll probably meet my goals financially AND I'll enjoy life along the way.

@jlcnuke nuke, I totally agree with you. My career was very stressful, particularly toward the end. Even the rare good boss didn't mitigate the fact that the nature of the work was stressful.

In response to the OP: since I didn't have cable (or any) tv, the time I spent on finances in a week was far less than most people watch the idiot box in a single night.

Well, since you didn't mean for it to come across like you're getting an ulcer, I've modified your steps....

11. You reach the point at which you recognize that the point of this journey was freedom, and in particular, freedom from worrying about money and cash flow issues. You don't concern yourself with minutia and instead enjoy your life, not obsessing over money in any fashion (whether pride or worry) because you're content.

Jlcnuke, I much prefer your version of this list. However, I started as an 11 and still feel that way nearly six years post-FIRE I always knew it was about balancing the desire for freedom with the importance of living life fully. I tracked my progress faithfully, but not obsessively. I never paid any attention to achieving a savings rate as a percentage of my income. I just optimized everything I could and let the numbers compound themselves. Much of the grinding described by the OP is self-imposed. Who needs more stress in their life? Watching your net worth grow eases stress, it does not increase it.

Hahaha, @mak1277's question was asked while I was typing my response. Good thing I paid attention to the new replies warning.